SMU Data and Models
October 17, 2019
SMU Market Trends: Are Steel Prices Close to the Bottom?
Written by Tim Triplett
Except for a brief uptick this summer, steel prices have been on the decline since March and breached the $500 per ton level this month—a psychological line in the sand that leaves steel buyers wondering how much further prices can slide. Steel Market Update estimates the average price for hot rolled is now down to $480 per ton. Does that mean the market is close to the bottom? Views on that question are mixed.
Following are some (anonymous) comments from service center and OEM executives this week:
